AIG taps outside hire for CFO role

American International Group (AIG) has appointed Keith Walsh (pictured) as executive vice president and chief financial officer effective October 21, 2024.

Reporting to AIG Chair and Chief Executive Peter Zaffino, Walsh brings more than 25 years of experience in finance, most recently serving as CFO at Marsh. Prior to that, he was vice president and head of investor relations at Marsh McLennan from 2012 to 2017.

Earlier in his career, Walsh worked for 14 years as an equity research analyst at Citi, focusing on the insurance industry.

Walsh will succeed Sabra Portal, who has served as AIG’s finance chief since January 2023. Portal will continue to work with Zaffino on strategic initiatives and will also serve as an advisor to Walsh during the transition period.

Zaffino, who also thanked Portal for its “significant value and contribution over a significant period”, commented: “Keith is an investor with deep financial expertise and significant experience in the financial services sector, particularly in the insurance industry. A very capable executive.

“I am very confident that he will be an excellent addition to our executive leadership team and will bring outstanding leadership to our global financial organization.”

Meanwhile, Walsh added: “AIG has executed an extraordinary business and financial turnaround, and I am honored to join this iconic company in its next phase of industry leadership and growth.

“I look forward to working closely with Peter Zaffino and AIG’s executive leadership team, as well as AIG’s talented global finance organization, as we continue to deliver for the company’s stakeholders and increase shareholder value.” “

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